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Virgin Media Q4 net income increases

Feb 13, 2013 (Datamonitor via COMTEX) --
Virgin Media Inc., a company engaged in entertainment and communications business, has reported a net income of GBP2.66 billion, or GBP8.19 per diluted share, for the fourth quarter ended December 31, 2012, compared to GBP48.2 million, or GBP0.16 per diluted share, for the same quarter ended December 31, 2011.

Revenue for the fourth quarter ended December 31, 2012 was GBP1.04 billion, compared to GBP1.02 billion for the same quarter ended December 31, 2011.

Net income for the year ended December 31, 2012 was GBP2.85 billion, or GBP8.75 per diluted share, compared to GBP75.9 million, or GBP0.24 per diluted share, for the year ended December 31, 2011.

Revenue for the year ended December 31, 2012 was GBP4.1 billion, compared to GBP3.99 billion for the year ended December 31, 2011.

Neil Berkett, CEO of Virgin Media, said: "2012 was a year of record cable customer growth, where mainstream demand for superfast broadband and TiVo has led to lower churn and a strong increase in new subscribers. Combined with growth in our business division, we have delivered solid financial progress."
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